Office-Light Industrial
For Sale
$325,000
1108 Wilroy Rd, Suffolk, VA 23434
Compact office building with yard/storage potential on nearly one acre in Suffolk, Virginia.
Property Size1,432 SF
Lot Size0.93 Acres
Price / SF$226.96
Days on Market192
Property Features for 1108 Wilroy Rd
General Information
Standard status
Active
Size
1,432 SF
Lot size
0.93 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Listing Agency:
Norfolk - Main
Listed By:
Ben Anderson
(757) 228-1839
Source:
Colliers
Added: Apr 13
Changed: Oct 19
Last Checked: Oct 20 at 5:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Norfolk - Main
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Investment Insights
Based on property information with market context.
1108 Wilroy Road presents a compact office/light industrial setup with outdoor yard or storage potential. The property includes a functional office layout within a 1,432 SF office building, supported by an outdoor area that can accommodate light industrial needs and contractor-style storage.
The site sits on approximately 0.93 acres and offers convenient regional access, with proximity to major transportation routes including US Route 58 (about one mile) and State Route 460 (about four miles).
For sale at $325,000, the HVAC system was replaced in 2025, supporting the property’s day-to-day operational readiness for an owner-user or business requiring both office space and outdoor storage.
The site sits on approximately 0.93 acres and offers convenient regional access, with proximity to major transportation routes including US Route 58 (about one mile) and State Route 460 (about four miles).
For sale at $325,000, the HVAC system was replaced in 2025, supporting the property’s day-to-day operational readiness for an owner-user or business requiring both office space and outdoor storage.
Key Highlights
- 1,432 SF office/light industrial building on 0.93 acres with outdoor yard/storage potential
- HVAC replaced in 2025
- Excellent access to US Route 58, about 1 mile away
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,680
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,600
$313.6K
Cap Rate 7%
$224,000
$224.0K
Cap Rate 9%
$174,222
$174.2K
Market Conditions
NOI Build-Up for 1,432 SF
Gross rent
$26.5K $18.48/SF
− Vacancy
−$5.6K −$3.88/SF
EGI
$20.9K $14.60/SF
− OpEx
−$5.2K −$3.65/SF
NOI
$15.7K $10.95/SF
Area
Suffolk County, VA
Vacancy
21.00%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,600
Cap Rate 7%
$224,000
Cap Rate 9%
$174,222
Alternative Uses
Best Use
Office B
$224.0K
$196.0K – $261.3K
NOI $15,680 @ 7.0% cap · market cap 4.82%
Second Best
Industrial
$136.6K
$119.5K – $159.3K
NOI $9,560 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$331.8K
$290.3K – $387.1K
NOI $23,227 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23434, VA
51,430
Population
21,764
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
206.8 sq mi
ZIP Area
249
Density / Sq Mi
$75,798
Median Household Income
$47,291
Median Earnings
$1,242
Median Rent
$293,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Mrs. Tee's Pots & Pans — 414 Declaration Ln, Suffolk, VA 23434
Frequently Asked Questions
What type of property is this?
Flex space - Compact office building with yard/storage potential on nearly one acre in Suffolk, Virginia.
Where is this flex space located?
The property is located at 1108 Wilroy Rd Suffolk, VA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,432 SF office/light industrial building on 0.93 acres with outdoor yard/storage potential; HVAC replaced in 2025; Excellent access to US Route 58, about 1 mile away
